Sadly there are few people around in this industry who remember 1974 and the following five years. W...
Sadly there are few people around in this industry who remember 1974 and the following five years. While being one of the more senior members of the investment community, even I cannot claim I was in the industry at that time. However, I was an investor in the mid-1970s. A few weeks ago, we investigated a strange set of circumstances. We saw a wave of selling in a particular fund for no particular reason. The fund is an excellent portfolio, has an excellent manager, has performed extremely well and we still have it on our buy list. It was bizarre. I was so concerned that I wrote to the ...
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